I know too much about the residential rental subject to put it all here. I'll save that for the Stick House Rental Forum. I got rid of my rentals in California due to the nightmares. And, most of my renters were nice people, paid the rent, etc. That was in 1974. I can't imagine it has gotten any better.
Came to Idaho. Not as bad as CA, but really rough, even here. Two evictions took more than 6 months, and both trashed the house in the process. Married a lady who had rentals across the border in Oregon. Man, don't go there!
Had 6 rentals, all but one, good ones. That one was enough. Took a year, trashing the house in the process. I had to pause the eviction to defend myself for discrimination, in court. (I won, if you can call that winning.) Blew $20,000 plus, counting lawyers and repairs on the house. Sold out, and lost a bundle to Capital Gains taxes. :'( :'( :'( There is no right way to do this!
That's only the headlines. But, I'll stop there. :-\
Ummmm, well, maybe one more. About doing business with friends and family........
No, I'll not go into that. Belongs in the Doing Business With Friends and Family forum........ :-\ They want to buy it? Best to just give it to them! :
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Ray D ;D